HARRISBURG, Pa., Nov. 13, 2007 (PRIME NEWSWIRE) -- The Board of Directors of Harsco Corporation (NYSE:HSC) today increased the Company's dividend rate by 9.9 percent, declaring a regular quarterly cash dividend of $0.195 per share, or $0.78 per share on an annualized basis. The previous quarterly dividend rate was $0.1775 per share, or $0.71 on an annualized basis. The increased dividend is payable February 15, 2008 to stockholders of record as of January 15, 2008.
The action marks Harsco's 14th consecutive dividend increase in the past 14 years. It is also the Company's 231st consecutive quarterly dividend paid to Harsco stockholders at the same or increased rate, and reflects the Company's previously announced two-for-one stock split which became effective in March 2007. The Company has paid dividends every year since 1939.
Commenting on the dividend action, Harsco Chairman and CEO Derek C. Hathaway said, "This latest increase reflects Harsco's commitment and capacity for providing enhanced value to our stockholders through an immediate return on their shares, in parallel with our continuing confidence in Harsco's future cash flows and global growth opportunities."
Harsco Corporation is one of the world's leading diversified industrial services companies, serving major customers in the non-residential construction, steel and metals, energy and railway industries. The Company posted 2006 revenues of $3.4 billion and employs approximately 21,500 people worldwide. Harsco's common stock is a component of the S&P MidCap 400 Index and the Russell 1000 Index. Additional information about Harsco can be found at www.harsco.com.
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